Smart Robot Market Research Report-Global Forecast till 2027

Smart Robot Market Research Report by Components (Actuator, Sensors, Power Source, Control Systems), Vertical (Automotive, Manufacturing, Electrical & Electronics, Food & Beverages, Chemical, Residential, Entertainment)- Forecast till 2027

ID: MRFR/SEM/5159-HCR | February 2021 | Region: Global | 100 pages

Please note that the assessment period of the report has been updated from 2018-2023 to 2020-2027. Cordially fill Sample form for the updated data.

Market Synopsis


Globally, the Smart Robot Market is expected to grow from USD 4.5 billion in 2017 to USD 15 billion by 2023, with a CAGR of 23% during the forecast period. The growth of industrial automation and advancement in robotics for connected and digital world drives the smart robot market. However, insecure network connection is likely to hamper the market growth. Despite the insecure network connections, the market is expected to observe various growth opportunities over the forecast period. Increase in government initiatives and the development of smart homes and smart cities is expected to open new avenues of growth for enterprises to enhance their existing smart robot product portfolio.


A smart robot is an AI-based system which can collaborate with humans, work along-side them, and mocks their actions. Baxter is an industrial robot which is developed by a US-based company Rethink Robotics. This robot works on the Android platform right next to the line of employees where repetitive tasks are performed such as precision packing. The advantages of smart robots are that these work fast, accurately, and tirelessly without any manual intervention.


Global Smart Robot Market


Global Smart Robot Market


Source: MRFR Analysis


Segmentation


The global smart robot market is segmented on the basis of component, vertical, and region.


By component, the market is segmented into actuators, sensors, power source, and control systems. Actuators market is segmented into electrical, pneumatic, hydraulic, piezoelectric, and ultrasonic. Sensor market is segmented into gyroscope, microphone, accelerometer, tilt sensor, force/torque sensor, position sensor, and vision/image sensor.


By vertical, the market is segmented into automotive, manufacturing, electrical & electronics, food & beverage, chemical, residential, and entertainment.


By region, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.


Regional Analysis


The global market for smart robots is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of the global smart robot market is done for North America, Europe, Asia-Pacific, and the rest of the world.


Asia-Pacific is expected to dominate the global smart robot market during the forecast period. Asia-Pacific is economically and technologically developed region and countries such as China, Japan, and South Korea are expected to dominate the global smart robot market in the Asia-Pacific region. The rising number of robot applications, and the expansion in the semiconductor industries are driving the smart robot market in Asia-Pacific during the forecast period.


North America is expected to grow at faster rate during the forecast period. The presence of big players and early adoption of new technologies such as IoT and AI are also contributing to the regional market growth significantly. The US, Canada, and Mexico are expected to register a dominant CAGR in North America during the forecast period. This region has been an early adopter of robotics for industrial and service applications which can drive the smart robot market in the region during the forecast period.


Competitive Analysis


According to the latest trend in the smart robot market, most enterprises are expanding their technological capabilities to adopt Industrial Internet of Things (IIoT) technology and industrial cybersecurity. Most of the companies have adopted inorganic strategy to expand their businesses, where partnership and collaboration have accounted for XX% of the total strategic developments, whereas merger & acquisitions accounted for good percentage of the overall key developments in the market.


Key Players


The prominent players in smart robot market are Honda Motor (Japan), iRobot Corporation (US), Seiko Epson Corporation (Japan), GreyOrange pte Ltd (Singapore), Rethink Robotics (US), KUKA AG (Germany), F&P Personal Robotics (Switzerland), SoftBank Robotics (Japan), Yaskawa Electric Corporation (Japan), and FANUC (Japan) among others.


Intended Audience



  • Raw material and manufacturing equipment suppliers

  • Electronic design automation (EDA) and design tool vendors

  • Original equipment manufacturers (OEMs)

  • Integrated device manufacturers (IDMs)

  • Original design manufacturers (ODMs)

  • ODM and OEM technology solution providers

  • Assembly, testing, and packaging vendors

  • Technology, service, and solution providers

  • Intellectual property (IP) core and licensing providers

  • Suppliers and distributors

  • Government and other regulatory bodies

  • Technology investors

  • Research institutes and organizations

  • Market research and consulting firms



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 15 Billion
  CAGR   23%
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Components, Vertical
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Honda Motor (Japan), iRobot Corporation (US), Seiko Epson Corporation (Japan), GreyOrange pte Ltd (Singapore), Rethink Robotics (US), KUKA AG (Germany), F&P Personal Robotics (Switzerland), SoftBank Robotics (Japan), Yaskawa Electric Corporation (Japan), and FANUC (Japan)
  Key Market Opportunities   Increase in government initiatives and the development of smart homes and smart cities.
  Key Market Drivers   The growth of industrial automation and advancement in robotics for connected and digital world.


Frequently Asked Questions (FAQ) :


The global smart robot market was valued at USD 4.5 billion in 2017.

The global smart robot market is expected to record a substantial market valuation of up to USD 15 billion by 2025.

The global smart robot market is projected to register a moderate 23% CAGR in the forecast period.

A few major market players operating in the global smart robot market are Yaskawa Electric Corporation (Japan), SoftBank Robotics (Japan), and FANUC (Japan) among others.

TABLE OF CONTENTS

1. Executive Summary

2. Scope of the Report

2.1. Market Definition

2.2. Scope of the Study

2.2.1. Research Objectives

2.2.2. Assumptions & Limitations

2.3. Markets Structure

3. Market Research Methodology

3.1. Research Process

3.2. Secondary Research

3.3. Primary Research

3.4. Forecast Model

4. Market Landscape

4.1. Porter’s Five Forces Analysis

4.1.1. Threat of New Entrants

4.1.2. Bargaining power of buyers

4.1.3. Threat of substitutes

4.1.4. Rivalry

4.1.5. Bargaining Power of Suppliers

4.2. Value Chain/Supply Chain of Smart Robot Market

5. Market Overview of Smart Robot Market

5.1. Introduction

5.2. Growth Drivers

5.3. Impact Analysis

5.4. Market Challenges

6. Market Trends

6.1. Introduction

6.2. Growth Trends

6.3. Impact Analysis

7. Smart Robot Market, by Component

7.1. Introduction

7.2. Actuator

7.2.1. Electrical

7.2.1.1. Market Estimates & Forecast, 2020–2027

7.2.1.2. Market Estimates & Forecast, by Region, 2020–2027

7.2.2. Pneumatic

7.2.2.1. Market Estimates & Forecast, 2020–2027

7.2.2.2. Market Estimates & Forecast, by Region, 2020–2027

7.2.3. Hydraulic

7.2.3.1. Market Estimates & Forecast, 2020–2027

7.2.3.2. Market Estimates & Forecast, by Region, 2020–2027

7.2.4. Piezoelectric

7.2.4.1. Market Estimates & Forecast, 2020–2027

7.2.4.2. Market Estimates & Forecast, by Region, 2020–2027

7.2.5. Ultrasonic

7.2.5.1. Market Estimates & Forecast, 2020–2027

7.2.5.2. Market Estimates & Forecast, by Region, 2020–2027

7.3. Sensors

7.3.1. Gyroscope

7.3.1.1. Market Estimates & Forecast, 2020–2027

7.3.1.2. Market Estimates & Forecast, by Region, 2020–2027

7.3.2. Microphone

7.3.2.1. Market Estimates & Forecast, 2020–2027

7.3.2.2. Market Estimates & Forecast, by Region, 2020–2027

7.3.3. Accelerometer

7.3.3.1. Market Estimates & Forecast, 2020–2027

7.3.3.2. Market Estimates & Forecast, by Region, 2020–2027

7.3.4. Tilt Sensor

7.3.4.1. Market Estimates & Forecast, 2020–2027

7.3.4.2. Market Estimates & Forecast, by Region, 2020–2027

7.3.5. Force/Torque Sensor

7.3.5.1. Market Estimates & Forecast, 2020–2027

7.3.5.2. Market Estimates & Forecast, by Region, 2020–2027

7.3.6. Position Sensor

7.3.6.1. Market Estimates & Forecast, 2020–2027

7.3.6.2. Market Estimates & Forecast, by Region, 2020–2027

7.3.7. Vision/ Image Sensor

7.3.7.1. Market Estimates & Forecast, 2020–2027

7.3.7.2. Market Estimates & Forecast, by Region, 2020–2027

8. Smart Robot Market, by Vertical

8.1. Introduction

8.2. Automotive

8.2.1.1. Market Estimates & Forecast, 2020–2027

8.2.1.2. Market Estimates & Forecast, by Region, 2020–2027

8.3. Manufacturing

8.3.1.1. Market Estimates & Forecast, 2020–2027

8.3.1.2. Market Estimates & Forecast, by Region, 2020–2027

8.4. Electrical &Electronics

8.4.1.1. Market Estimates & Forecast, 2020–2027

8.4.1.2. Market Estimates & Forecast, by Region, 2020–2027

8.5. Food & Beverages

8.5.1.1. Market Estimates & Forecast, 2020–2027

8.5.1.2. Market Estimates & Forecast, by Region, 2020–2027

8.6. Chemical

8.6.1.1. Market Estimates & Forecast, 2020–2027

8.6.1.2. Market Estimates & Forecast by Region, 2020-2027

8.7. Residential

8.7.1.1. Market Estimates & Forecast, 2020–2027

8.7.1.2. Market Estimates & Forecast, by Region, 2020–2027

8.8. Entertainment

8.8.1.1. Market Estimates & Forecast, 2020–2027

8.8.1.2. Market Estimates & Forecast, by Region, 2020–2027

9. Smart Robot Market, by Region

9.1. Introduction

9.2. North America

9.2.1. Market Estimates & Forecast, by Country 2020–2027

9.2.2. Market Estimates & Forecast, by Component, 2020–2027

9.2.3. Market Estimates & Forecast, by Verticals, 2020–2027

9.2.4. US

9.2.4.1. Market Estimates & Forecast, by Component, 2020–2027

9.2.4.2. Market Estimates & Forecast, by Verticals, 2020–2027

9.2.5. Mexico

9.2.5.1. Market Estimates & Forecast, by Component, 2020–2027

9.2.5.2. Market Estimates & Forecast, by Verticals, 2020–2027

9.2.6. Canada

9.2.6.1. Market Estimates & Forecast, by Component, 2020–2027

9.2.6.2. Market Estimates & Forecast, by Verticals, 2020–2027

9.3. Europe

9.3.1. Market Estimates & Forecast, by Country 2020–2027

9.3.2. Market Estimates & Forecast, by Component, 2020–2027

9.3.3. Market Estimates & Forecast, by Verticals, 2020–2027

9.3.4. Germany

9.3.4.1. Market Estimates & Forecast, by Component, 2020–2027

9.3.4.2. Market Estimates & Forecast, by Verticals, 2020–2027

9.3.5. France

9.3.5.1. Market Estimates & Forecast, by Component, 2020–2027

9.3.5.2. Market Estimates & Forecast, by Verticals, 2020–2027

9.3.6. UK

9.3.6.1. Market Estimates & Forecast, by Component, 2020–2027

9.3.6.2. Market Estimates & Forecast, by Verticals, 2020–2027

9.4. Asia-Pacific

9.4.1. Market Estimates & Forecast, by Country 2020–2027

9.4.2. Market Estimates & Forecast, by Component, 2020–2027

9.4.3. Market Estimates & Forecast, by Verticals, 2020–2027

9.4.4. China

9.4.4.1. Market Estimates & Forecast, by Component, 2020–2027

9.4.4.2. Market Estimates & Forecast, by Verticals, 2020–2027

9.4.5. India

9.4.5.1. Market Estimates & Forecast, by Component, 2020–2027

9.4.5.2. Market Estimates & Forecast, by Verticals, 2020–2027

9.4.6. Japan

9.4.6.1. Market Estimates & Forecast, by Component, 2020–2027

9.4.6.2. Market Estimates & Forecast, by Verticals, 2020–2027

9.4.7. Rest of Asia-Pacific

9.4.7.1. Market Estimates & Forecast, by Component, 2020–2027

9.4.7.2. Market Estimates & Forecast, by Verticals, 2020–2027

9.5. Rest of the World

9.5.1. Market Estimates & Forecast, by Country 2020–2027

9.5.2. Market Estimates & Forecast, by Component, 2020–2027

9.5.3. Market Estimates & Forecast, by Verticals, 2020–2027

9.5.4. Middle East & Africa

9.5.4.1. Market Estimates & Forecast, by Component, 2020–2027

9.5.4.2. Market Estimates & Forecast, by Verticals, 2020–2027

9.5.5. Latin Countries

9.5.5.1. Market Estimates & Forecast, by Component, 2020–2027

9.5.5.2. Market Estimates & Forecast, by Verticals, 2020–2027

10. Company Profiles

10.1. Honda Motor

10.1.1. Company Overview

10.1.2. Component/Business Segment Overview

10.1.3. Financial Updates

10.1.4. Key Developments

10.2. iRobot Corporation

10.2.1. Company Overview

10.2.2. Component/Business Segment Overview

10.2.3. Financial Updates

10.2.4. Key Developments

10.3. Seiko Epson Corporation

10.3.1. Company Overview

10.3.2. Component/Business Segment Overview

10.3.3. Financial Updates

10.3.4. Key Developments

10.4. greyorange pte ltd.

10.4.1. Company Overview

10.4.2. Component/Business Segment Overview

10.4.3. Financial Updates

10.4.4. Key Developments

10.5. Rethink Robotics

10.5.1. Company Overview

10.5.2. Component/Business Segment Overview

10.5.3. Financial Updates

10.5.4. Key Developments

10.6. KUKA AG

10.6.1. Company Overview

10.6.2. Component/Business Segment Overview

10.6.3. Financial Updates

10.6.4. Key Developments

10.7. F&P Personal Robotics

10.7.1. Company Overview

10.7.2. Component/Business Segment Overview

10.7.3. Financial Updates

10.7.4. Key Developments

10.8. SoftBank Robotics

10.8.1. Company Overview

10.8.2. Component/Business Segment Overview

10.8.3. Financial Updates

10.8.4. Key Developments

10.9. YASKAWA ELECTRIC CORPORATION

10.9.1. Company Overview

10.9.2. Component/Business Segment Overview

10.9.3. Financial Updates

10.9.4. Key Developments

10.10. FANUC

10.10.1. Company Overview

10.10.2. Component/Business Segment Overview

10.10.3. Financial Updates

10.10.4. Key Developments

11. Conclusion


LIST OF TABLES

Table1 Global Smart Robot Market, By Country, 2020-2027

Table2 North America: Smart Robot Market, By Country, 2020–2027

Table3 Europe: Smart Robot Market, By Country, 2020–2027

Table4 Asia-Pacific: Smart Robot Market, By Country, 2020–2027

Table5 Latin America: Smart Robot Market, By Country, 2020–2027

Table6 North America: Smart Robot Market, By Country

Table7 North America: Smart Robot Market, By Component

Table8 North America: Smart Robot Market, By Verticals

Table9 Europe: Smart Robot Market, By Country

Table10 Europe: Smart Robot Market, By Component

Table11 Europe: Smart Robot Market, By Verticals

Table12 Asia-Pacific: Smart Robot Market, By Country

Table13 Asia-Pacific Smart Robot Market, By Component

Table14 Asia-Pacific Smart Robot Market, By Verticals

Table15 Middle East & Africa: Smart Robot Market, By Country

Table16 Middle East & Africa: Smart Robot Market, By Component

Table17 Middle East & Africa: Smart Robot Market, By Verticals

Table18 Latin America: Smart Robot Market, By Country

Table19 Latin America: Smart Robot Market, By Component

Table20 Latin America: Smart Robot Market, By Verticals


LIST OF FIGURES

Figure 1 Global Smart Robot Market segmentation

Figure 2 Forecast Methodology

Figure 3 Porter’s Five Forces Analysis of Global Smart Robot Market

Figure 4 Value Chain of Global Smart Robot Market

Figure 5 Share of Smart Robot Market in 2020, by country (in %)

Figure 6 Global Smart Robot Market, 2020–2027

Figure 7 Share of Global Smart Robot Market by Industry, 2020–2027

Figure 8 Global Smart Robot Market Size, by Component, 2020

Figure 9 Share of Global Smart Robot Market, by Component, 2020–2027

Figure 10 Global Smart Robot Market Size, by Verticals, 2020

Figure 11 Share of Global Smart Robot Market, by Verticals, 2020–2027